The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-09-02
RUMORS OF BIG DEALS.
GARRETT SAID TO BE ANXIOUS TO
UNLOAD HIS HOLDINGS.

An Intimation that Gould VIII Gobble
the Baltimore and Ohio Telegraph
System-The Little Wizard and the
Pennsylvania Railroad Said to Have
Advanced the Baltimore and Ohio
Road Money.
BALTIMORE, Nd, Sept. 1.-The Baltimore
and Ohio Express Company to-day passed
into the hands of the United States Ex-
press Company, and their employees were
notified of the change. There will, for the
present at least, be no changes in the en-
ployes, and reports will be made to the
General Manager as heretofore.
Speaking of the sale John K.
Cowan, counsel for the Baltimore and
Ohio Company said 1.-The statement that
the Baltimore and Ohio Express Company
has been sold to the United States Express
Company is not correct. There has been
simply contract entered into between the
two companies by which the United States
Company is to run the Baltimore and Ohio
for thirty years, for which the former is to
pay the latter company certain percentage
of the earnings" He declined to
say what the percentage will be.
1t is now very generally believed here
that the sale of the Express is not the last
of the deals of the Baltimore and Ohio
Railroad Company. Special dispatches
from New York render it conclusive TO the
minds of many prominent business men that
the telegraph system of the company will
soon pass into other hands ii the negotia-
tions are not already concluded. The i'm
preston also prevails that Mr.. Garrett is
anxious to dispose of the road and an
nouncement of the sale at any time will
create no surprise here.
THE VICE PRESIDENTS STATEMENT.
Vice President Spencer, in answer to in
quiries on the subject to-day, confirmed the
disposal of the plant of the Baltimore and
Ohio Express Company and of the execu-
tion of a contract between the railroad
company and the United States Express
Company for thirty years, but declined to
give any further particulars He said, how
ever, that he regarded the ar
rangement as quite advantageous to
the interests both of the railroad
Company and the Express Company. Mr..
Spencer stated that there was no truth
whatever in the statements as to negotia-
tions with London bankers for the control
of the company or that the house of Garrett
q Sons was selling or intending to sell its
holdings and he knew of no such intentions
on the part of any other large holders.
THE PENNSYLVANIA RAILROAD RUMoR
He treated as absurd the statement that
the Pennsylvania railroad had advanced or
was advancing any moneys TO the Balti
more and Ohio company looking to its con
troll, or for any other purpose. The control
of the company had not and would not pass
into any rival hands. Tt would continue as
an independent trunk line with the interests
of all classes of stockholders fully and am
ply cared for, working, it is hoped, in
such harmony with connecting aud COM
peting interests as would secure the best re-
suits for all. The company is doing a large
business and has met, and was prepared to
meet promptly, all its obligations of every
character.
RUMoRS ON THE STREET.
New YORK, Sept IA report was cur
rent on the Stock Exchange to-day, said to
emanate from a director of the Pennsylvania
railroad, to the effect that the Baltimore
and Ohio paper taken up yesterday was
only renewed. Another report said that an
agreement has been made between j. S.
Morgan, A. J. Cassatt and Robert Garrett
for the transfer of a majority of
the Baltimore and Ohio railroad stock
in the interest of syndicate
in which the Pennsylvania railroad and Jay
Gould are said to be equally interested.
According to this story, the Western Union
will absorb the Baltimore and Ohio Tele-
graph lines, and the Pullman Car Company
the Baltimore and Ohio Palace Car Com
pany.